Cantaloupe, a US-based provider of end-to-end technology solutions for self-service commerce, has acquired Cheq Lifestyle Technology.
This strategic move positions Cantaloupe for expansion into the sports, entertainment and restaurant sectors. CHEQ specializes in mobile ordering, socially connected payments, real-time reporting, and remote support, aiming to enhance venue operations, increase efficiency, and drive revenue.
The acquisition marks Cantaloupe's entry into a rapidly growing field with significant synergies between the two companies' product lines. In an official press release, Muskmelon representatives expressed excitement about the prospects of expanding the company's business scale.
Founded in 2021, CHEQ helps make payments to a variety of professional sports teams, entertainment venues, and festival operators, including the Washington Commanders (NFL), Florida Panthers (NHL), and Philadelphia Union (MLS). The technology is designed to increase food and beverage sales, reduce transaction times, and support customer traffic and engagement.
What are the main highlights of the acquisition?
The most significant aspects of the acquisition include the expansion of the Melon market into solutions for sports stadiums, entertainment venues, festivals, hospitality, theme parks, and full-service and fast-casual restaurants. Comprehensive products include his enterprise-grade POS platform, omnichannel solutions, social connectivity features, and team/venue customization.
CHEQ representatives look forward to partnering with Cantaloupe to bring market-leading innovation to their customer base and expand their technology offerings through Cantaloupe's domestic and international sales network.
Detailed information on both companies
CHEQ is a social payments platform focused on creating a frictionless in-person experience. Its universal ordering and payment app works with a variety of businesses and allows you to conduct transactions seamlessly. Cantaloupe specializes in self-service commerce, and its vertically integrated solutions cover micropayment processing, enterprise cloud software, IoT technology, and kiosk/POS innovation. Cantaloupe's end-to-end platform helps businesses improve operational efficiency while increasing consumer engagement and sales revenue.
In December 2023, Cantaloupe released new analytical tools on its Seed Pro software platform. Seed Analytics and Seed Intelligence were designed to change the way vending machine operators leverage data to grow their business by improving decision-making and increasing productivity.
According to the official press release, Seed Intelligence was specifically designed for operators seeking a business intelligence tool. It provides a comprehensive data warehouse that integrates sales and operational data from Seed Pro with the carrier's existing business intelligence tools such as Microsoft Power BI, Tableau, and QlickSense.
This eliminates the need to manually process data and simplifies the analysis process. Additionally, operators can combine data to create custom dashboards. Seed Intelligence aims to facilitate cross-functional reporting by centralizing data across the platform.
